The state government of Victoria is ramping up its investment in housing across the state in an effort to provide homes for more Victorians and boost the construction industry.
The government recently announced an investment in regional housing, which will see at least 150 social housing homes built in Ballarat. This project is expected to create 100 direct and 350 indirect local jobs.
The construction of these social housing homes will commence next year and will replace 66 of the existing, ageing social housing homes at the Delacombe estate.
"We’re creating local jobs, while also building homes that will transform the lives of community members, delivering a stronger and more resilient Ballarat," said Juliana Dickinson, parliament member for Wendouree.
The state government also announced a project in Collingwood and South Yarra, which is expected to deliver 480 new social and affordable homes while generating more than 2,000 new jobs.
"We’re getting on with building housing where it’s needed most in locations like Collingwood and South Yarra – close to school, employment opportunities, health services and transport," said Richard Wynne, minister for housing.
The Delacombe, Collingwood, and South Yarra sites add to the Big Housing Build projects already under way at Ascot Vale, Ashburton, Flemington, Hawthorn, Heidelberg West, and North Richmond.
The landmark $5.3bn Big Housing Build is the largest single investment in social and affordable housing in Australia’s history. It is expected to deliver 12,000 new homes across the state. Roughly $1.25bn will be invested in regional areas.
Overall, this investment will boost Victoria’s social housing supply by 10%, while creating 10,000 jobs per year over the next four years.
Acting Premier James Merlino said the Big Housing Build hits two birds with one stone. While it provides a roof over the head of vulnerable Victorians, it also creates opportunities for job creation, which in turn boost the state’s economic recovery.
“We’re building a stronger and fairer Victoria where our vulnerable Victorians have a safe and stable place to call home,” he said.
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local mortgage broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.
We value your privacy and treat all your information seriously - you can check out